Dakota Company, a Corporation, Began Operations on December 1, 2010

Short Answer

Dakota Company, a corporation, began operations on December 1, 2010.During January of 2011, the following transactions occurred:
·Billed customers $12,000 for services performed during January.
·Received payment from customers in the amount of $6,000 for services performed and billed in December.
·Received cash of $7,000 for services performed during January for customers who paid cash immediately.(No bills were mailed.)
A. How much total Revenue should Dakota Company report for January, 2011?
B. Determine the increase in cash during January of 2011 as a result of these transactions.